Port of Duqm inks lease agreements with investors

Muscat, April 13 - Port of Duqm Company (PDC) has signed lease agreements with four Omani companies for the development of logistics support infrastructure and facilities on land earmarked for logistics related investments within PDC’s concession. Separately, Duqm Industrial Land Company LLC (DILC), a subsidiary of Port of Duqm Company, has inked pacts with two Omani investors covering the lease of land for industrial-related projects. A total of around 70,000 sq metres of land within the ‘Logistics Cluster’ of Port of Duqm Company has been leased to Jebel Investment, 3-Dimension Engineering, Ubar Logistics, and Ocean Investment. Reggy Vermeulen, CEO — Port of Duqm, signed the agreements on behalf of PDC. Al Rajhi, CEO of Jebel Investment, said the leased area will be utilised for the construction of warehousing capacity to support industrial projects coming up in the adjoining Duqm Special Economic Zone (SEZ). Yousuf Barhi, CEO — 3-Dimension Engineering, commented: “Our project in Duqm will feature a multipurpose warehouse facility for cold storage, as well as an open yard. Duqm is one of the ideal locations for industrial investments and we are coming up with more investment plans in Duqm for the year 2020.” He thanked Hilal al Balushi, Business Development Manager at PDC, and his team, for their prompt and efficient service. Dr Ahmed al Junaibi, CEO — Ubar Logistics and Services, said: “Our plan is to create a unique and modern warehousing cluster in Duqm to serve different industries.” Reggy Vermeulen, CEO of PDC, stated: “Port of Duqm Company is committed to offering continuous support to its clients in setting up their projects. PDC is steadily emerging as the most preferred investment destination of the region.” Port of Duqm Company, a joint venture between the Government of Oman and Belgium’s Consortium Antwerp Port (CAP), has multiple roles as a Port Authority, Terminal Operator and Landlord of 3,000 ha of land (Port Bound, Logistics, Liquid Bulk and Mineral Processing Land). The ‘Logistics Land’ allocation covers an area of approximately 1,000 ha which will predominantly accommodate logistics related industries that can import their goods, and at the same time construct open yards, permanent warehouses, and so on. Duqm Industrial Land Company LLC (DILC), on the other hand, oversees a large parcel of Industrial Land under usufruct rights granted by the Omani government for 35 years. Under the arrangement, DILC has the exclusive rights to develop, lease, manage, operate and market about 2,000 ha of industrial land located inside of the Special Economic Zone of Duqm. These industrial lands will be largely accommodated by petrochemical, medium heavy and heavy industrial activities. DILC recently signed two 25-year lease agreements with Omani firms Al Hana Engineering and Mohammed Jama Esmail Trading, covering a total area of 40,000 sq metres. Both companies will establish their fabrication units to perform predominantly steel fabrication activities. Mohammed Basheer, Chairman — Al Hana Engineering Industries stated, “We foresee huge business potential caused by the various projects being developed in Duqm, and this will help us to bring real value for our investment there.” Mohammed Jama Bait Ishaq, CEO — Mohammed Jama Esmail Trading (MJET), added: “DILC provided us with levelled industrial land which is strategically located within proximity of the Port and this will help us perform our activities more efficiently. This was possible only by the efficient and committed involvement of the entire DILC technical and commercial team.”